This is a first.
According to a note we received from team Waves, Boris Akimov, a farmer and the founder of organic food startup LavkaLavka and BioCoin, will use the Waves platform to tokenize his skills ad time. Yep. A new spin on farming supported by a distributed ledger.
We all know that blockchain is disrupting financial services but it is a truism that it will disrupt oh so much more. But farming? How do you accomplish that?
Akimov says its a simple idea, in principle.
“I have certain skills, knowledge and experience, as well as my time in which I apply them, which is what will be tokenized. Token owners can receive the benefits of this experience for a period of time, depending on how many tokens they have. The more competent my work, the higher the demand for my skills and knowledge, and the higher the value of the tokens on Waves’ built-in decentralized exchange.”
Akimov says the flip-side of this is that if his work sucks than his token will go down in value.
“This “free market” approach to my own abilities is very appealing and to me, represents one of the great strengths of blockchains and cryptocurrencies”, adds Akimov.
Waves says this is pretty much same as it ever was. Akimov is just going to be paid for his labor and knowledge. Just in a bespoke digital currency.
The token that will be hosted on the Waves platform will represent the unique skills and time of one person.
Akimov explains that if he tokenizes two days a week of his time during a period of 4 years that is 3328 hours. Break it down into seconds and that number jumps to 12 million. Thus Akimov is going to sell his tokenized seconds on Waves.
Sasha Ivanov, CEO and founder of Waves, says this is just a really interesting application of Blockchain tech.
“You can tokenize just about anything you are prepared to redeem, and this is no different to the diverse forms of value tokenization used by currencies, businesses and other applications – it’s just a highly individual approach!” says Ivanov. “In the future, no doubt we’ll see a lot more of this kind of thing, and some even more imaginative use cases for blockchain.”
BioCoin, in case you were not aware, is an eco-token from his farmers’ cooperative LavkaLavka. In an initial coin offering (ICO), BioCoin raised $16 million. It looks like Akimov Coin (or whatever it may be called) is part 2 of his crypto adventures.
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